HFZ buys UWS rental building, the Chatsworth

Ziel Feldman’s HFZ Capital and partner BSG Real Estate have closed on the purchase of the Chatsworth, an Upper West Side rental building, for $150 million, the Wall Street Journal reported.

The pre-war building, at Riverside Drive and 72nd Street, sits in a prime location but holds an honor some investors find dubious: Many units are rent-controlled. But Feldman is upbeat, telling the Journal he hopes to restore the Beaux-Arts gem to its “original glory.”

Lipa Lieberman, David Schechtman, Peter Hauspurg and Azita Aghravi of Eastern Consolidated represented both sides in the transaction, the Journal said. [WSJ]–Guelda Voien